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What are the immediate benefits that an MSME can accrue by implementing this technology?
The immediate benefits are:
1. Businesses get paid faster - in just a few days;
2. They know when and how they will be paid;
3. Purchase orders and amendment processes are automated, purchase order changes clearly highlighted;
4. Invoice processes are automated;
5. Data is reused (versus manually rekeyed) to create other documents and execute processes: POs are used to create packing list/ASNs, data form packing lists + POs are used to create invoices and so on;
6. The same purchase order data flows into tools for packing, scanning and shipment-building;
7. Transactions are cleaner/ more compliant resulting in faster approval for payment and greater availability of financing;
8. Suppliers know exactly what needs to be completed for an order, and when they will be paid.
What is the kind of hand-holding you provide to allow people to understand and implement it? And what are the legacy practices that people can easily abandon once they begin work through this technology?
Training is conducted for users to get up and running. Users have a client manager that they can contact. Once they are up and running, a support line is available to customers to call any time of the day for support or questions regarding the system. There is always someone available to assist a user. Old processes of manually handling orders, amendments and invoices are eliminated. Costly tools such as factoring are eliminated. The need for more costly financing options is reduced.
Please elaborate on how this technology can also accelerate the pace of data interpretation?
Suppliers work in an automated environment. They can have a dashboard view of orders and incoming payments. They can log in once and view this data across multiple customers on the platform. Buyers automate the PO and payment process. But they also capture all transaction data and performance history. This becomes valuable in instances where supplier funding is delivered based on the performance data of the supplier and buyer instead of credit.
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